Papa John's has released solid fourth quarter and 2009 numbers, including a 56 percent increase in net income for the year. Company CEO John Schnatter attributed the boost to better-priced commodities and savvy company investments, including an aggressive, multi-media marketing campaign.
Domestic system-wide comparable sales decreased 0.5 percent for the quarter and were even for the year, according to a company statement. International franchise system sales increased 18 percent for the quarter and 14 percent for the year.
Net income for the fourth quarter of 2009 was $13.7 million, compared to 2008 fourth quarter net income of $12.8 million, an increase of 7 percent. Net income for 2009 rose 56 percent to $57.5 million compared to net income of $36.8 million for 2008.
The company announced revenues of $280.5 million for the fourth quarter of 2009, relatively flat compared to revenues of $279.6 million in 2008. Consolidated revenues for 2009 were $1.11 billion, representing a decrease of 2.3 percent from revenues of $1.13 billion for 2008.